Ariyo Olushekun, the president, Chartered Institute of Stockbrokers, says the recent forbearance package to stock broking firms has repositioned the firms for acquisition and merger.
Olushekun told the News Agency of Nigeria (NAN) in Lagos on Wednesday that the package had positioned the firms to be bigger and stronger.
According to him, brokers are talking to themselves about merger, acquisition or recapitalisation to serve the capital market better.
“This is because the accounts of stock broking firms are much healthier and cleaner; firms that were affected by debts now have an opportunity to start afresh.
“The forbearance has restored confidence among investors; stock broking firms are now ready to form formidable entities and play their expected role in the capital market,” he said.
Olushekun said that the market growth so far was partly due to the forbearance package.